On the first day of its 20th Annual Meeting in Florence, Italy, Baker Hughes, a GE company, announced its commitment to reduce its CO2 equivalent emissions 50% by 2030, achieving net-zero CO2 equivalent emissions by 2050. The company also said it will invest in its portfolio of advanced technologies to assist customers with reducing their carbon footprint.

BHGE has already achieved a 26% reduction in its emissions since 2012 through a commitment to new technology and operational efficiencies. BHGE will continue to employ a broad range of emissions reduction initiatives across manufacturing, supply chain, logistics, energy sourcing and generation. BHGE has established a global additive manufacturing technology network with a mission to bring commercial-scale production closer to customers, reducing transportation impact and associated emissions.

“Oil and gas will continue to be an important part of the global energy mix, and BHGE is committed to investing in smarter technologies to advance the energy industry for the long-term,” said Lorenzo Simonelli, chairman and CEO of BHGE. “Managing carbon emissions is an important strategic focus for our business. We believe we have an important role to play as an industry leader and partner. BHGE has a long legacy of pushing the boundaries of technology and operating efficiency. Today we take this to the next level by committing to ambitious new goals for ourselves, and to providing lower carbon solutions expected by customers and society.”

To further industry and customer efforts to reduce carbon emissions, BHGE’s Gaffney, Cline and Associates has launched a new Carbon Management Practice. This is the first oil and gas consultancy to offer quantitative assessment of carbon intensity, evaluation of carbon solutions and the accreditation of emission reductions. This new practice helps governments, energy companies and the financial community understand and solve energy transition issues related to oil and gas resources, assets and investments.